According to a McKinsey analysis, the redistribution of revenues across sectors within ecosystems could yield up to $1 trillion in total economic profit globally. As a result, Digital Integration, which is critical in connecting organizations and technologies in ecosystems, becomes a significant competitive battleground capability.
Every business requires a well-structured and integrated infrastructure to function efficiently in this digital era. Your digital integration journey will not be smooth unless you have successful data and application integration in place. Changes in business requirements, such as new business initiatives, technological evolution, mergers and acquisitions, and so on, all have an impact on digital integration. However, lowering integration costs and increasing business efficiency is a top priority for anyone. Cloud integration can assist you in lowering integration costs, increasing integration reliability, and increasing business efficiency.
In this blog post, let us explore the top seven ways to reduce costs and improve productivity with digital integration.
Limit the number of connections.
A company may require up to 20 integrations between different systems on average. This can take hundreds of hours, which can quickly spiral out of control every time you add a new system. Cloud-integrating platforms can help eliminate the need for numerous point-to-point integrations, saving you a significant amount of time and effort in integration. With integration, application, and database boarding and offboarding will be simple and quick.
Reduce data transfer expenses.
Many services, applications, and SaaS solutions must be integrated with core systems as part of digital transformation initiatives. Based on the data volume and frequency, each data request from the cloud apps may result in additional API charges or data transfer fees from the cloud platforms. When you use the integration platform, it provides an integration hub where you can access all of your data. This lowers the cost of each integration and allows you to store your data at a lower cost.
Remove manual coding
The integration process can take many hours, and when your IT team has to code it manually, it takes a significant amount of time and effort. The cloud integration platform can assist you in finishing the integration process with little or no coding. It aids in driving data utilization and the adoption of new integration scenarios to increase team productivity by eliminating the need to manually code for each integration. Integration can reduce IT redundancy, increase speed, and boost productivity.
Reduced downtime expenses
A cloud integration platform can significantly reduce system dependencies and mitigate the effects of downtime. The ability of an integration platform to troubleshoot integration problems faster reduces downtime costs and strengthens your integration by increasing data reliability and availability.
Reduce the costs and risks of relying on duplicitous data.
A self-service integration strategy enables data governance and access to a “single source of truth.” It enables businesses to quickly converge all data sources, validate information, and integrate data, improving ease of doing business, lowering costs, and ultimately growing revenue.
It also provides an end-to-end encrypted environment in which only authenticated users can access and analyse data streams for better decision-making. As a result, the risks of breaches are reduced. As a result, businesses can provide accurate actionable insights and make better decisions.
APIs simplify and facilitate integration by allowing different software to reorganize their interrelationships to meet the specific needs of your business. This allows your company to achieve better results while reducing development costs. Externally, you can integrate your applications with third-party services to improve their functionality and usability.
Improve Network Bandwidth Utilization
On your terms and at your pace! While we strive for zero latency, a minor compromise can result in significant cost savings. If an analytical tool requires human intervention or verification, sending messages with latency below a certain threshold will provide no additional benefit. As a result, if a subscribing application can tolerate higher latency, the integration hub allows you to configure different data retention periods. You can optimize network bandwidth utilization and reduce resource consumption by planning and automating integration tasks at different latencies and times.
When it comes to modernizing and maintaining complex business processes, integrating different systems can be extremely difficult. Under duress, these may become critical to your company’s survival. Digital Enterprise integration is fraught with difficulties, such as dealing with massive amounts of data, and complex systems, managing the total cost of various integration solutions and adapting to the ever-changing modern business requirements.
Digital integration solutions can provide numerous advantages, including the ability to modernize legacy infrastructure through APIs, advanced integration patterns with an intuitive interface, secure and faster data migration, efficient applications, and lower maintenance costs.
These integration challenges can be avoided by selecting the best integration solution for your business. If you are looking for the best digital integration platform, QUINNOX can assist you in making the right decision.
Contact QUINNOX for a range of different cost-cutting and productivity-boosting strategies.